notice 715

CHINA NEWSLETTER | AUGUST 2014

Representative Office Incorporation in China: Goods and Bads

Representative Offices are the cheapest, fastest and easiest way to incorporate in China. This structure enables you to sense the market, understand its dynamics, taking your first steps in China. However, such advantages come at a cost: they are not allowed to conduct business in China.

Notice 715: SAFE eases foreign exchange regulations

The State Administration of Foreign Exchange (SAFE) has released “Notice 715” simplifying the conversion of foreign currency in registered capital into Renminbi in the 16 pilot zones. Those zones, including areas such as Zhonguancun in Beijing, Binhai in Tianjin or Suzhou Industrial Park, aim at further connect technology and finance. This notice came into force on August 4th and may well ease the way companies manage their funds.

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